IM Therapeutics Raises $10 Million Financing Co-Led by JDRF T1D Fund and Morningside Ventures
IM Therapeutics is a clinical stage company developing personalized therapies for autoimmune disease. On October 9th, they announced that they have raised $10 million in Series A financing to advance their novel HLA-targeted discovery platform and develop their lead drug candidate in type 1 diabetes! The funding was co-led by the JDRF T1D Fund and Morningside Ventures, with participation from the Colorado University Healthcare Innovation Fund.
Their research showed that blocking action of certain human leukocyte antigen (HLA) gene variants known to be high risk factors blocks the corresponding autoimmune response. As the first such personalized therapy approach in autoimmunity, the Company demonstrated this in a Phase 1b human study in patients recently diagnosed type 1 diabetes who were positive for the HLA DQ8 variant. The study was funded in part by JDRF. The Company is advancing its lead oral drug, IMT-002, through IND development for type 1 diabetes and expanding its core therapeutic platform of HLA blockade to other targets of autoimmune disorders including celiac disease.
To learn more, read the full article on their website: https://www.imtherapeutics.com/october-xx-2019_pr